The European Central Bank (ECB) is exploring options for an offline digital euro as part of its retail central bank digital currency (CBDC) work. Currently, it wants to understand the marketplace for using an embedded Secure Element (eSE) and embedded SIM (eSIM) of end user devices.
Secure elements are standard-compliant chips that ensure the safe storage of important data. Most smartphones and many wearables have them and they’re typically used for payments amongst other functions.
Modern iPhones and many other phones have an embedded SIM. That means if you want to switch your mobile network, the SIM is updated using software, rather than a physical replacement. This has to be super secure, hence the interest in using it for offline CBDC payments.
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